US Bank Failure

On August 19, 2008, former International Monetary Fund chief economist and Harvard University economics professor Kenneth Rogoff theorized that a large U.S. bank could fail before the year's end.Times Online: Credit crunch may take out large US bank... (August 19, 2008)

"The US is not out of the woods. I think the financial crisis is at the halfway point, perhaps. I would even go further to say the worst is to come."Times Online: Credit crunch may take out large US bank... (August 19, 2008)

"We're not just going to see mid-sized banks go under in the next few months, we're going to see a whopper, we're going to see a big one, one of the big investment banks or big banks."Reuters: Large U.S. bank collapse ahead, says ex-IMF economist (August 19, 2008)